Division of Banks Announces Action against Taylor, Bean & Whitaker

BOSTON, MA - August 12, 2009 - (RealEstateRama) -- The Division of Banks issued a cease-and-desist order against Taylor, Bean & Whitaker Mortgage Corporation, one of the largest wholesale lenders in the country.On Tuesday, Aug. 4, the Federal Housing Administration announced that it had suspended Taylor Bean from originating any FHA-insured mortgages after allegations of financial misrepresentation and the failure to disclose a multi-state settlement agreement which included Massachusetts.

Patrick Administration Announces Multi-State Agreement with Taylor, Bean & Whitaker Mortgage Corporation

Model Agreement Will Bring Relief to Homeowners. BOSTON, MA - June 22, 2009 - (RealEstateRama) — The Patrick Administration’s Division of Banks today announced a major agreement with Taylor, Bean & Whitaker Mortgage Corporation (TBW) regarding its mortgage lending practices for so-called “nontraditional” loans made in 2006. This agreement will result in a detailed review of TBW’s nontraditional loan exceptions, the adoption of the federal loan modification program to assist struggling homeowners, and the payment of $9 million to assist the states in their oversight of mortgage origination practices.


AG Healey Secures $2 Million in Restitution for 20,000 Massachusetts Homeowners...

One of the nation’s largest mortgage servicers will pay $2 million in restitution to resolve allegations that it violated state law and committed unfair and deceptive practices by charging Massachusetts homeowners for unnecessary fees and overpriced force-placed insurance policies, Attorney General Maura Healey announced today